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FINANCIAL NEWS
Saudi to boost investments in electricity, water sectors
15 May 2012
(MENAFN) Saudi Deputy Minister for Water Affairs, Mohammed Ibrahim Al-Saud, stated that Saudi plans an USD133.28 billion investment in the country’s electricity and water sectors, reported Arab News.
Al-Saud added that of the total amount, USD53.31 billion will be allocated for water projects that will be executed by 2022, whereas the remaining USD79.69 billion will be allotted to power projects.
On the other hand, he said that Saudi water consumption rate remains one of the highest in world, between 7-8 percent at the current time, to a daily 7 million cubic meters, of which 3.3 million cubic meters comes from desalination plants.
It is worth noting that Saudi is establishing 3 desalination plants at a total cost of USD18 billion, and are scheduled to operate in 3 years.
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